2020 China’s New Energy Vehicle Industry Report

Source:iresearch January 28,20215:04 PM

Supporting national and local policies, gradually improving mandatory standards, expanding financial subsidies to new energy vehicles, continuously promote the development of new energy vehicles.

Foreign-trade dependence of China's crude oil is over 70%,much higher than the international warning line of 50%. Alternative energy has become increasingly important.  The battery, motor and electric control technologies of new energy vehicles have matured. The range and battery pack energy gradually increase.

The number of new energy vehicles in China keeps increasing and the market is developing rapidly. According to China’s development plan, the sales of new energy vehicles will probably exceed 5 million in 2025. 

Since the R&D of core parts and automobile companies will gradually separate, the development space for automobile companies will become larger.  

The development of assisted driving, IoV, smart seat and human-computer interaction will greatly enhance the driving experience.

Agreeing with the concept of new energy is the primary reason for consumers to buy new energy cars, and commuting is the main purpose.

Consumers attach the most importance to battery quality and stability when buying new energy vehicles. About 90% of users take the intelligence of vehicles into consideration. Intelligent hardware and autopilot are regarded by users as the main advantages of intelligent cars.

Battery and charging are the main problems stopping potential users from buying new energy vehicles.

BYD has a complete product line structure. Its Blade battery leads the technological innovation.

NIO targets the luxury intelligent electric vehicle market. Its battery replacement and car battery separation models have attracted a lot of attention.

WELTMEISTER enters the market with its battery vehicle SUV. Its GETnGO APP can solve users’ charging pain points. Its tourist vehicle rental business completes the travel ecology.

It is expected that the automobile industry might have completed its electricity transformation by 2035.

The cost of power battery is expected to continue to decline, with high nickel and low cobalt as the development direction.

The key capabilities of 5G are much improved compared to those of 4G. The application of 5G in vehicles is expected to promote the coordinated development of autopilot and vehicle roads.

SDV keeps improving the value of software in vehicles, continuously improving the driving experience.

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